Answer:
$17,642.21 (nearest cent)
Step-by-step explanation:
Since the price depreciates by 5% each year, after each year the car's price will be 95% of its price the precious year.
Hence the price of the car can be expressed as (0.95^t)(24,000), where t is the number of years since it was purchased.
Substituting t = 6 into the equation,
(0.95^6)(24,000) = $17,642.21 (nearest cent)